MEDFOHD MAIL TRIBUNE. MEDFORD, OREGON
WEDNESDAY. AUGUST 22. 1962
Methods Are Given For College Funds
When school bells ring an
nouncing a new term of school
.'and young children slart Off
-to their classes - that's when
their parents should take in
ventory of their plans for
their offspring's future edu
cation. : Will the children go to col
lege and can parents provide
tor further education?
Tuition and living costs at
schools are rising constantly.
In order for children from
families of average means to
plan for college, the financial
foundation for college educa
tion must be laid soundly and
early.
There are various methods
for establishing funds for col
lege education.
Dennis the Menace
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I a me insurance plan, at
moderate monthly costs, can
be one method. Planned
savings in a bank or savings
and loan association are also
practical plans.
Endowment policies plan
ned on the basis of 10 or 15
years, (according to the age of
the youngster when started),
is a popular insurance-savings
plan with many parents.
Regular purchases of U.S.
Savings bonds 's another plan
for accruing funds for college.
Introduced several years
ago, and gaining in popularity
are College Savings clubs that
function the way Christmas
and Vacation Savings clubs
do . . . regular deposits for a
specific goal.
'Just Save'
It's possible, of course, to
"just save" for a child's future
education, but the average
family finds that they save
most successfully, when they
have a formal, planned basis.
In any savings plan for a
child's future education, it's
always wise to make the
youngster a "partner" in the
savings program. As the child
gets older and begins to earn
money on his own for odd
jobs and chores, he should be
encouraged to deposit some of
I his earnings to the "general
tuna .
This will give the child an
important sense of participa
tion and add to his incentive.
The younger the children
are when savings funds are
started, the less wear and tear
on the family budget over the
years ahead.
Discuss your plans with an
officer at your bank or with a
reliable insurance agent; they
are qualified advisors to help
with the right plan for you.
'Try And Decide' ts
Advice for Consumer
New York - HOT - Forget
the expert lingo and enjoy
tasting until you find wine
that, indeed satisfies you, ad
vises J. Wechsberb in a re
port in the "Canadian Food
Journal."
The advice - try, and de
cide for yourself - stems from
the fact that there seem to
be more experts than vinta
ges. If you need a bench
you consider the words of
the late King Edward VII of
England, a connoisseur.
"Not only does one drink
wine, but one inhales it, one
looks at it, tastes it, one
swallows it - and one talks
about it," he said.
Your Money's
Worth
By SYLVIA PORTER
Copyright, Hall SyndicaU, Inc.
LET DOWN AFTER 'THE BALL'
"The White House's attitude toward the U. S. economy
now reminds me of my wife's reaction after she has come
home from a sedate charity ball," remarked my Wall Street
friend. "She starts out expecting a glorious time and for
days, she prepares for the occasion, chatters about what fun
we'll have. Then, when she finds out she's with the same
acquaintances who say the same things as last time and it's
just 'another nice evening,' she's let down."
"Translated into terms of the U. S. economy," said I,
"do you mean that if the White House hadn't made such
dazzling predictions for 1962 and been so specific with its
optimistic statistics, we wouldn't be so let down today be
cause all we've experienced in 1962 is a 'sedate' and 'another
nice1 business advance?"
"Exactly what I mean," said he. "Selling precise targets
in an economy as broad and diffuse as ours is dangerous
under any conditions. When targets are set as high as Ken
nedy set them beginning with his January 22 Economic
Message to Congress, the danger of missing them is multi
plied many times over."
"And then we work ourselves into today's uncomfortable
circumstances," I continued. "The President has to back
track, which is unsettling in itself. To maintain confidence,
the administration has to choose statistics which play up
the progress the economy has been making, although every
informed observer knows the real story lies in the gap be
tween target and performance. Meanwhile, as sights are low
ered generally, even businessmen and workers who are doing
better than ever feel uncertain about the basic situation."
"As I was saying about my wife," said my friend, "if she
didn't build herself up so much before a party, she'd not
be disappointed when she finds she's not Cinderella at a ball
lasting through the night."
My friend's analogy, irreverent and sardonic though it
may be, hits a fundamental point. It is at least a good
possibility that if we hadn't been led by White House
projections to anticipate so much for 1962, we'd not be
so disturbed about the extent to which we're behind the
projections.
Still, the fact is that in the face of the most dazzling
forecasts and promises, this 1961-62 expansion has been the
weakest of the five postwar business recoveries, and that's
not to be shrugged off.
To be specific, the Cleveland Trust Co. recently charted
the progress of the five business recoveries of post-World War
II as of the 16lh month after the previous recession's low.
Assuming the low is an index figure of 100, here's the index
16 months after each recession bottom: in June 1947, the
index was 123.2; in February 1951, the index was 130.7; in
December 1955, it was 117.2; in August 1959, it was 118.9;
in June 1962, it was only 115.4.
Also, the fact is that every bright statistic President
Kennedy has submitted to show the gains we've made since
February 1961 has a not-so-bright side indicating that the
gains are slowing.
Again to be specific: The nation's total output of goods
and services is, as Kennedy said, now running at a record
annual rate of $552 billion, up $50 billion from the low. But
it was supposed to be at a rate of $565-570 billion by now
underling how far we're behind the goal. The unemployment
rate is down 23 per cent from February 1961, as he said.
But after all these months, the rate is still sticking about 5 j
per cent of all those able and willing to work, and there's
not a chance we'll reach the "tolerable maximum" of 4 I
per cent the way we're going. The same goes for the personal i
income figures, business Investment, total employment, the j
average workweek, etc. I
Of course, we're setting new yar-to-yaar records; if
w weren't ahead on year-to-year comparisons, we'd be In i
i real slump. But it's entirely too sedate a record for an ,
economy faced with our employment profit-plant-competi-lion
problems.
Maybe, like my friend's wife, we expected too much and
our prospects never were as good as we thought. But that
doesn't mean our prospects shouldn't have been and that we
shouldn't be trying to upgrade our performance to our ex
pectations instead of searching for excuses to the opposite. I
TTK
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THIS IS A BONAFIDE CLOSE-OUT SALE!
WE MUST VACATE BY SEPTEMBER 1ST
Y APPLIANCE CENTER
In the Big Y Shopping Center Phone 773-3052
ONE-TWO
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As easy as 1-2-3 you can now save Big on the CHRYSLER, PLYMOUTH or
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OUR 12th YEAR AT...
8th and Riverside
a i